Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) has highlighted its recent achievements and its goals for 2025.
The company described 2024 as a “pivotal year.”
Notably, in December, the company entered a Letter of Intent with a multinational pharmaceutical company to improve production efficiencies for contrast media products.
A definitive agreement is expected in early 2025.
The company also expanded its leadership team with key appointments, including Dr Ibrahim Hashmi as Vice President of Business Development and Dr Iryna Saranchova as Chief Scientific Officer.
Voyageur introduced five Health Canada-licensed barium contrast products, marking a milestone in its efforts to elevate standards in the medical imaging sector.
The company secured a C$2.7 million sales distribution contract for SmoothX 2% Barium Contrast, targeting Latin American markets, with sales anticipated to commence in the second half of 2025 following regulatory approvals.
Further, in collaboration with Rain Cage Carbon, Voyageur successfully produced vanadium endohedral fullerene (V@C60) through the RC Carbon Capture Eden System technology. This development aims to facilitate the cost-effective production of materials for diagnostic imaging and future theragnostic applications.
Additionally, Voyageur created alliances to advance carbon-based imaging drug technologies, including a collaboration with Applied Pharmaceutical Innovations. The company also initiated clinical evaluations of its barium contrast formulations, laying the groundwork for patient testing and expanded market access.
Looking ahead to 2025, Voyageur plans to advance its barium and iodine contrast projects, aiming to secure FDA licensing, expand sales in Canada, and optimize its production processes.
The company is also developing fullerene-based contrast drugs, leveraging partnerships to drive innovation and address critical mineral supply constraints in North America.
Through its vertically integrated model, Voyageur aims to establish a secure supply chain for radiology drugs and position itself as a leader in the industry.